[Federal Register Volume 65, Number 168 (Tuesday, August 29, 2000)]
[Notices]
[Page 52474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-22076]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Internal Revenue Service


Renewable Electricity Production Credit, Publication of Inflation 
Adjustment Factor and Reference Prices for Calendar Year 2000

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factor and reference prices 
for calendar year 2000 as required by section 45(d)(2)(A) (26 U.S.C. 
45(d)(2)(A)).

-----------------------------------------------------------------------

SUMMARY: The 2000 inflation adjustment factor and reference prices are 
used in determining the availability of the renewable electricity 
production credit under section 45(a).

DATES: The 2000 inflation adjustment factor and reference prices apply 
to calendar year 2000 sales of kilowatt hours of electricity produced 
in the United States or a possession thereof from qualified energy 
resources.

Inflation Adjustment Factor

    The inflation adjustment factor for calendar year 2000 is 1.1382.

Reference Prices

    The reference prices for calendar year 2000 are 4.95 cents per 
kilowatt hour for facilities producing electricity from wind and 
0 cents per kilowatt hour for facilities producing electricity from 
closed-loop biomass and poultry waste.
    Because the 2000 reference prices for electricity produced from 
wind, closed-loop biomass, and poultry waste energy resources do not 
exceed 8 cents multiplied by the inflation adjustment factor, the 
phaseout of the credit provided in section 45(b)(1) does not apply to 
electricity sold during calendar year 2000.

Credit Amount

    As required by section 45(b)(2), the 1.5 cents amount in section 
45(a)(1) is adjusted by multiplying such amount by the inflation 
adjustment factor for the calendar year in which the sale occurs. If 
any amount as increased under the preceding sentence is not a multiple 
of 0.1 cents, such amount is rounded to the nearest multiple of 
0.1 cents. Under the calculation required by section 45(b)(2), the 
renewable electricity production credit for calendar year 2000 under 
section 45(a) is 1.7 cents per kilowatt hour on the sale of electricity 
produced from wind, closed-loop biomass, and poultry waste energy 
resources.

FOR FURTHER INFORMATION CONTACT: David A. Selig, IRS, CC:PSI:5, 1111 
Constitution Ave., NW., Washington, DC 20224, (202) 622-3040 (not a 
toll-free call).

Paul F. Kugler,
Associate Chief Counsel (Passthroughs & Special Industries).
[FR Doc. 00-22076 Filed 8-28-00; 8:45 am]
BILLING CODE 4830-01-P